Accor sees demand pick up as recovery continues | News

Accor has reported revenue of €589 million for the third quarter of financial 2021.

The figure is up 79 per cent on last year, illustrating the recovery from the depths of the Covid-19 slump, but remains 40 per cent down on levels seen in 2019.

“This third quarter of 2021 saw a genuine pick-up in demand.

“Our business was very strong this summer in Europe, the Middle East and the Americas, particularly for our leisure destinations.

“These trends are expected to persist out to the end of the year,” said Sébastien Bazin, chief executive of Accor.

“People are very keen to travel again.

“With this rebound, our vision of augmented hospitality to serve our guests beyond their hotel rooms, has been confirmed with the acceleration of lifestyle and entertainment activities and takes on its full meaning.”

RevPAR at Accor improved by 20 percentage points versus quarter one of 2021, reflecting a strong activity recovery seen over the summer.

Over the quarter, the strong demand translated in higher prices than in quarter three of 2019 in most attractive leisure geographies such as French and British provinces, the UAE and the US with strong lifestyle hotels.

September and October confirmed the return of business travellers and some MICE activity, the company added.

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